Planet Labs surges to new AH after earnings? Perhaps the underlooked space stock?

While everyone was chasing the $RKLB and $ASTS pumps, **Planet Labs ($PL)** just dropped a monster Q4 report and the market is finally waking up. Stock is ripping in the premarket and hitting new All-Time Highs. **The "Too Long; Didn't Read" on why this is moving:** * **Massive Beat:** Q4 Revenue $86.8M (up 41% YoY) vs. $78M expected. * **Profitable:** Achieved first-ever full year of **Positive Free Cash Flow** and Adjusted EBITDA. * **The Backlog:** Now over **$900M** (up 79% YoY). They have almost a billion dollars in guaranteed work lined up. * **The NVIDIA Catalyst:** Just announced a partnership with NVIDIA to build the first "GPU-native AI engine" for planetary data. They aren't just taking pictures; they’re building the AI infrastructure for Earth intelligence. **Why it’s the next Space Runner:** $PL has been the "boring" space stock for two years while $RKLB and $ASTS grabbed the headlines. But with **$640M in cash**, zero need for dilution, and a valuation that still hasn't caught up to its peers, the "Space + AI" re-rating is officially on. We saw what happened to Rocket Lab when they proved the business model. Planet Labs just did the same.